Short Interest in ICICI Bank Limited (NYSE:IBN) Drops By 7.6%

ICICI Bank Limited (NYSE:IBN) saw a significant drop in short interest in the month of November. As of November 15th, there was short interest totalling 30,100,000 shares, a drop of 7.6% from the October 31st total of 32,590,000 shares. Based on an average daily volume of 5,430,000 shares, the short-interest ratio is currently 5.5 days.

Institutional Trading of ICICI Bank

Several large investors have recently bought and sold shares of IBN. National Bank of Canada FI boosted its stake in ICICI Bank by 122.6% in the third quarter. National Bank of Canada FI now owns 5,168,100 shares of the bank’s stock valued at $154,268,000 after buying an additional 2,846,325 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in ICICI Bank by 101.6% in the third quarter. BNP Paribas Financial Markets now owns 4,633,232 shares of the bank’s stock valued at $138,302,000 after buying an additional 2,334,887 shares in the last quarter. Marshall Wace LLP boosted its stake in ICICI Bank by 7,273.1% in the second quarter. Marshall Wace LLP now owns 2,130,832 shares of the bank’s stock valued at $61,389,000 after buying an additional 2,101,932 shares in the last quarter. Amansa Capital PTE. LTD. boosted its stake in ICICI Bank by 48.9% in the second quarter. Amansa Capital PTE. LTD. now owns 6,092,159 shares of the bank’s stock valued at $175,515,000 after buying an additional 2,000,000 shares in the last quarter. Finally, William Blair Investment Management LLC boosted its stake in ICICI Bank by 162.4% in the second quarter. William Blair Investment Management LLC now owns 2,981,105 shares of the bank’s stock valued at $85,889,000 after buying an additional 1,845,063 shares in the last quarter. 18.18% of the stock is owned by institutional investors and hedge funds.

ICICI Bank Price Performance

Shares of NYSE IBN traded up $0.38 during mid-day trading on Tuesday, reaching $30.92. The company had a trading volume of 3,205,064 shares, compared to its average volume of 5,486,388. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.00 and a current ratio of 1.00. ICICI Bank has a one year low of $23.16 and a one year high of $31.60. The firm has a market cap of $109.08 billion, a price-to-earnings ratio of 21.03, a PEG ratio of 2.04 and a beta of 1.00. The business’s 50-day simple moving average is $30.04 and its 200 day simple moving average is $28.98.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded ICICI Bank from a “sell” rating to a “hold” rating in a research report on Thursday, September 5th.

About ICICI Bank

ICICI Bank Limited provides various banking products and services in India and internationally. It operates through Retail Banking, Wholesale Banking, Treasury, Other Banking, Life Insurance, and Others segments. The company offers savings, salary, pension, current, and other accounts; and time, fixed, recurring, and security deposits services.